ATLANTA, Dec. 2, 2010 /PRNewswire/ -- Georgia -based drug discovery start-up, Celtaxsys, Inc. is pleased to announce that Dr. Michael Hanley has joined the company as its new Chief Executive Officer and Chairman of the Board of Directors. Dr. Hanley has served on both the Scientific Advisory Board and Board of Directors of Celtaxsys since 2007. Dr. Hanley brings more than 20 years of managerial experience in the international life science industry including drug discovery, product development, and production. He was most recently the Chief Scientific Officer for Amylin Pharmaceuticals where he was responsible for discovery research and preclinical development.

"We are very pleased that Dr. Hanley has joined us as CEO," says William Reddick, CFO and Founder of Celtaxsys. "His background as an industry leader, and as an innovative drug hunter, with direct knowledge of our area of research, are qualities well-matched to our needs. We are delighted in the strengths he brings to Celtaxsys."

"Over the last few years I have gained an insight into the innovative technology and exciting research and development that are at the core of Celtaxsys. I look forward towards building long-term, future success and stakeholder value at the Company," says Michael Hanley.

From 1981 to 1997, Dr. Hanley held faculty positions at Imperial College, London, the Medical Research Council Laboratories, Cambridge, and the University of California at Davis, where he was Professor of Biological Chemistry. From 1997 to 2003, he was a senior consultant for healthcare investors in the venture capital and banking communities and for biotechnology companies such as Cell Therapeutics, Zymogenetics, Elan Pharmaceuticals, and Chiron. Dr. Hanley has founded several start-ups, such as Resolvyx Pharmaceuticals and Psylin Neurosciences, and is currently on boards of Aileron Therapeutics, Metabolic Solutions Development Company, Isogenica, and Pieris. He received a bachelor's degree in Biochemistry and a Ph.D. in Molecular Biology from the University of California, Berkeley.

About Celtaxsys

Celtaxsys is privately-held start-up focused on discovery and development of therapeutics to treat inflammation. The Company has identified a portfolio of immunoregulators that redirect immune cell migration and activation. Initial product candidates can ameliorate acute and chronic inflammatory disorders of cutaneous, and other, barrier epithelia.